Semtech Co. Shares (NASDAQ:SMTC) sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its stake in shares of Semtech Co. (NASDAQ:SMTC – Free Report) by 14.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,715 shares of the semiconductor company’s stock after selling 18,044 shares during the quarter. Granite Investment Partners LLC’s holdings in Semtech were worth $3,248,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in Semtech in the second quarter valued at about $400,000. XTX Topco Ltd purchased a new stake in Semtech in the second quarter valued at about $1,110,000. Edgestream Partners LP purchased a new position in Semtech during the second quarter valued at approximately $1,610,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Semtech during the second quarter valued at about $348,000. Finally, Federated Hermes Inc. purchased a new stake in Semtech in the second quarter valued at about $2,922,000.

Analyst upgrades and downgrades

Several research firms recently weighed in on SMTC. Benchmark restated a “buy” rating and set a $56.00 price objective on shares of Semtech in a research report on Monday, September 9th. Northland Securities boosted their price target on Semtech from $36.50 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their target price on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Check out our latest research report on SMTC

Semtech stock performance

Shares of NASDAQ:SMTC opened at $46.00 on Friday. The stock’s 50-day moving average is $36.05 and its 200-day moving average is $33.68. The company has a market cap of $3.46 billion, a P/E ratio of -2.72 and a beta of 1.54. Semtech Co. it has a 52 week low of $13.13 and a 52 week high of $47.49.

Semtech (NASDAQ:SMTC – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The company’s revenue for the quarter was down 9.6% year over year. During the same period in the previous year, the business posted EPS of ($0.06). As a group, equities analysts predict that Semtech Co. will show -0.07 EPS for the current year.

Semtech Profile

(Free Report)

Semtech Corporation designs, develops, manufactures and markets analog and mixed-signal semiconductors and advanced algorithms. It offers signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure and industrial applications; a portfolio of integrated circuits for data center, enterprise networks, passive optical networks, optical transceivers for wireless base stations and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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